takeover offer for 66 cents per share, page-47

Hi guys

I've been watching ELM for the consolidation stage.

Two things to remember:

1. There was a spike in SP yesterday and I noticed this to be unusual - leaky boat on result or TO offer leaked.

2. Ppl who're exp in shares trading would have learnt lessons in various Chinese controlled TO offer - e.g. BMN, SDL - offer made but dragged on for years and pulled out.

This is reflected in the SP IMO. However given that BHP may likely restart the Jensen potash in Canada this will likely lift sentiment for moment.

Just beware of any Chinese bid....